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Fine Foods fiscal Q3 loss narrows YOY

Fine Foods Ltd. said its normalized net income for the fiscal third quarter ended March 31 was a loss of 1 poisha per share, compared with a loss of 16 poisha per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 183,810 taka, compared with a loss of 2.2 million taka in the year-earlier period.

The normalized profit margin rose to negative 3.2% from negative 51.1% in the year-earlier period.

Total revenue rose 36.9% on an annual basis to 5.8 million taka from 4.2 million taka, and total operating expenses fell 20.9% from the prior-year period to 6.1 million taka from 7.7 million taka.

Reported net income totaled a loss of 314,100 taka, or a loss of 2 poisha per share, compared to a loss of 3.5 million taka, or a loss of 26 poisha per share, in the prior-year period.

As of April 30, US$1 was equivalent to 77.92 taka.